Posted on December 14, 2022 in General
Nurtured relationships with prospects can go cold. The good news is you can rekindle cold leads. Many of your prospects likely have HSA and FSA accounts. These tax-exempt accounts present a huge marketing opportunity for your practice. With well-timed promotions, you can convince potential patients to spend their tax-free dollars at your practice and earn extra revenue to finish the year strong.
Keep reading to learn why you still have time to reconnect with cold prospects, how FSAs and HSAs can help, and the best ways to do it.
FSA and HSA
A health savings account (HSA) and flexible spending account (FSA) are accounts you put money into to pay for qualified healthcare expenses. The biggest benefit of FSAs and HSAs is that the money is tax-free.
Patients with FSAs must use all the money in the account before the end of the year. Otherwise, the unused funds are forfeited to the employer. On the other hand, unused contributions in HSAs don’t expire. Any amount left is automatically rolled over to the next year.
Here are some of the ways you can use FSAs and HSAs to considerably increase your chances of converting cold leads into patients sooner rather than later.
Leverage Email Marketing
Email is an affordable and effective way to reach cold leads. Make a special effort to encourage prospects to spend HSA and FSA dollars in your practice before year-end.
You can send timely emails to potential patients requesting them to come in for their vision, dental, or medical appointments. Combining email blasts and drip campaigns will provide the edge you need. They’ll motivate leads to take advantage of those health benefits before they expire.
Remember to highlight the FSA deadline in all your emails. Plus, include photos and information of your FSA/HSA-approved products and services to attract new patients.
Emails showing prospects the importance of taking charge of their health and using their flex funds before they expire may do the trick. It can increase the number of leads who show up at your door to spend their FSA and HSA dollars.
Tap Into the Power of Text Messaging
Text messages have one of the highest open rates. Research shows that 95 percent of texts are read within 3 minutes of being sent. Unsurprisingly, this makes texts a surefire way of connecting with leads. You can send texts to prospects to book appointments for HSA as well as FSA-eligible healthcare services.
Make sure prospects know that if they don’t use their flex benefits before the deadline, they’ll lose them. Also, provide enough information, so leads are aware of all their spending capabilities. That way, they’re more likely to spend every penny at your practice before the end of the calendar year.
A “Use It or Lose It” text messaging campaign is a win-win for everyone. It will ensure patients don’t lose the funds left in their accounts, and your practice generates more revenue in the final quarter of the year.
Whether it’s work, taking care of kids, holiday activities, or simply forgetting, your leads can easily put health appointments on the back burner. So go ahead and send prospects gentle text reminders about booking appointments before their benefits expire. Don’t forget to include things like:
- We accept HSA and FSA benefits
- You can use your tax-free dollars today
Follow-ups can persuade leads to make the most of their benefits and schedule their appointments before time runs out.
Revitalize Your Cold Leads with MDprospects
There’s no time to start promoting HSA and FSA spending at your practice like the present. With MDprospects’ automated drip campaigns, email blasts, and two-way texting, you can get in front of your cold leads and finally convert them into patients.
Want to find out how MDprospects can help you re-engage cold leads and increase patient conversion this season? Schedule your demo today.